USD/CAD – 30M – SELLThe combination US Dollar/Canadian Dollar (USD/CAD) moves from the bullish trendline downwards
The bearish trend downwards to the next support line at 1.37448 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.3815 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘%K crosses below %D’ indicator signal is found. The indicator is ‘%K crosses below %D’. which is often a bearish chart scenario. The currency pair could go down.
In addition a ‘Tweezers Top’ candlestick chart pattern is existing. The candles form ‘Tweezers Top’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.38717 |
| 2nd High | 1.38225 |
| Next High | 1.3815 |
| Current Price | 1.37715 |
| Next Low | 1.37448 |
| 2nd Low | 1.37 |
| 3rd Low | 1.3688 |
1.3815 – 1.37475 – 1.37277 – 1.37448 – 1.37 – 1.37042 —
1.37616 – 1.37734 —
47.780566896652 – 55.817526550032 —
– —
1.38150 – 1767627000
Trading Signals: FOREX – USD – USD/CAD – CAD – Tweezers Top – Double top chart pattern – – – – – – – –